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U.S. Dollar Trading (USD) eased against a basket of currencies to end the week on Friday as U.S. retail sales surprised coming in on the soft side. With market expectations that the figure would be a growth of 0.4%, the actual number was released unchanged at 0.0%, bolstering views that the economy was losing plenty of its momentum. Added to this was a benign Core PPI number which also came in below consensus at 0.0% (Forecast: 0.2%). Although the USD was subject to plenty of technical trading, the dollar did however receive some support (capping its losses) on the back of investor expectations that a rate cut by the Fed would not emanate in the near term. In U.S. share markets the NASDAQ rose by 28.48 points (+1.12%) whilst the Dow Jones also rebounded gaining by 111.19 points (+0.84%).
U.S. Dollar Trading (USD) eased against a basket of currencies to end the week on Friday as U.S. retail sales surprised coming in on the soft side. With market expectations that the figure would be a growth of 0.4%, the actual number was released unchanged at 0.0%, bolstering views that the economy was losing plenty of its momentum. Added to this was a benign Core PPI number which also came in below consensus at 0.0% (Forecast: 0.2%). Although the USD was subject to plenty of technical trading, the dollar did however receive some support (capping its losses) on the back of investor expectations that a rate cut by the Fed would not emanate in the near term. In U.S. share markets the NASDAQ rose by 28.48 points (+1.12%) whilst the Dow Jones also rebounded gaining by 111.19 points (+0.84%).